风险投资对高新技术企业技术联盟策略影响——以吸收能力为中介的实证研究  

The impact of venture capital on high-tech firms' alliance strategy:Based on the medium role of absorptive capacity

作　　者：龙勇[1] 梅德强[1] 常青华[1] 

机构地区：[1]重庆大学经济与工商管理学院,重庆400030

出　　处：《科研管理》2011年第7期76-84,共9页Science Research Management

基　　金：教育部新世纪优秀人才支持计划项目"高新技术企业融资策略对战略模式影响";编号:NCET-07-0906;国家自然科学基金资助项目(编号:70672012)

摘　　要：风险投资相对于传统的投资是一种特殊形式的投资方式,它不仅为企业发展提供资金支持,还通过多种形式的非资本增值服务提升企业价值。非资本增值服务会影响高新技术企业的发展战略,如企业联盟策略的制定。本文研究风险投资对高新技术企业联盟策略的影响,引入了吸收能力作为中介变量,通过对多个地区的高新技术企业调研数据进行实证分析验证了本文提出的相关假设,最后对研究结论和意义进行了分析和讨论。Related to others traditional investment, venture capital is a spocial investment. Several studies examine the hypothesis that venture capitalists play an active role in the companies which they invest in, provide mentor and strategic advice, help with bringing innovative products to the marketplace, and assist at the recruitment of top managers. Other studies hypothesize that the presence of venture capitalists is useful for certifying the value of companies to the marketplace, and venture capitalists play an important role in the governance of the companies which they invest. According to these special characteristics of venture capital, the effect of venture capital on the firms＇ all.lance strategy is analyzed, and the relationships among venture capital, absorptive capacity and technology strategy alliance strategy are studied.

关 键 词：风险投资 技术联盟 吸收能力 中介效应 

分 类 号：F270[经济管理—企业管理]